Aditya Birla Money, incorporated in 1994, is a full-service stockbroker based out of Chennai. For around 15 years from 1994, the broker was known as Apollo Sindhoori Capital Investments until 2009. This is when Aditya Birla Group bought 76% of it.
Since then, it has been part of the group and is known as Aditya Birla Money.
Let’s understand, through this review, whether Aditya Birla Money is an apt stock broker as per your trading requirements or not.
Aditya Birla Money Review
Aditya Birla Money has memberships with NSE, BSE, MSEI, MCX and NCDEX.
It allows its clients to trade across multiple financial segments such as:
“Aditya Birla Money has an active client base of 42,354 for the financial year 2020.”
Furthermore, the broker has a huge offline presence with more than 800 branches and franchisees across India. It also has an employee base of 17000+, assets worth ₹3,000 Billion, aggregated revenue worth ₹115 Billion which definitely places it among the top stockbrokers in India.
Sudhakar Ramasubramanian – Managing Director, Aditya Birla Money
Aditya Birla Money Trading Platforms
The full-service share broker provides multiple trading platforms across devices including Desktop, Laptop and mobile and here are the details:
Aditya Birla Money Express Trade
Express Trade from Aditya Birla Money is a terminal-based trading platform (NEST customized) that users can download and install on their laptops or desktops. Consequently, it is known to be a well-designed trading terminal with a lot of usable and unique features as listed below:
Charting with 21-day intra-day charts and more than 50 indicators
Market monitoring with information on top market movers
Unique open Interest bar feature that graphically compares option strikes
Livestock updates and recommendations on the trading screen
ETrade by this full-service stockbroker is the web trading platform that can be directly accessed through a browser. It comes with the following features such as:
Market watch management
Holdings and Trading Limit
This is how the trading platform looks like:
Aditya Birla Advanced Web Trading Platform
This is the latest addition to the trading platforms from the house of Aditya Birla Money. In addition to it, this is an advanced version of the browser-based trading platform ETrade. Here are some of the unique features of this trading platform:
Real-time portfolio tracking.
Funds transfer possible with more than 15 banks.
Detailed research reports, market tips available within the single click.
Customizable market watch as per user preferences.
Alerts and notifications available through email and SMS.
Hotkeys available for users to customize and personalize.
Being a full-service stockbroker, it provides research at both technical as well as fundamental levels. You are entitled to receive research reports of listed companies, daily trading calls and recommendations for day to day trading. The reports include:
All these reports are available online on the website of Aditya Birla Money with the following bifurcations. This segregation helps users to check reports that are used to them and not get confused with overwhelming information.
In order to get in touch with this full-service stockbroker, you have the option to use either of these communication channels:
If you are looking for online assistance, this full-service stockbroker has limited ways to communicate and the overall service is also pretty mediocre. However, when it comes to offline assistance through phone and sub-broker/franchise offices, the broker decent service at both quantitative and qualitative level.
There are more than 800 offline locations across India along with the provision of a toll-free number for users to get in touch with the broker.
Thus, it really depends on your preferred mode of service and accordingly, you can make a choice.
Aditya Birla Money Pricing
When it comes to pricing, there are different types of charges levied by stockbrokers. Let’s talk about these charges one by one:
Aditya Birla Money Account Opening Charges
This full-service stockbroker has the following charges for opening an account:
Demat Account Opening Charges
Trading Account Opening Charges
Demat Account Annual Maintenance Charges (AMC)
Trading Account Annual Maintenance Charges (AMC)
At this price of account opening, Aditya Birla Money is slightly above the market average in pricing.
Aditya Birla Money Brokerage
It charges these brokerage percentages as brokerage from clients:
Within full-service stockbroking space, these brokerage values are somewhere in the middle. The brokerage charges are neither expensive nor cheap and thus, users are required to use their discretion when it comes to selecting a stockbroker.
“The minimum brokerage charged by Aditya Birla Money is INR 20 per Contract/1 paisa per share whichever is higher subject to a maximum of 2.5% per share.”
Interested users are advised to have a detailed negotiation with the executive of the broker in order to get better brokerage rates.
Clients get the following leverage from Aditya Birla Money and can trade more than his trading balance:
15 times for Intraday and 5 times for Delivery
3 times for Intraday
3 times for Intraday
2 times for Intraday
Users are advised to understand the implications and risks of using exposure on top of their capital amount. Unless you understand how it works, ideally you must not use the exposure.
Aditya Birla Money Disadvantages
Be aware of these concerns before you open your trading account with this full-service stockbroker:
Brokerage charges are still high as compared to some of the full-service brokers
No leverage in Equity options and currency futures
NRI Trading not available
Transaction charges are slightly high than the values set by regulatory bodies.
“Aditya Birla Money has received 10 complaints in total for this financial year 2019-20. This converts to 0.02% of the total active client base (industry average is 0.02%). Thus, the broker falls short of the industry standard on that aspect.”
Aditya Birla Money Advantages
You should also know about some of the benefits if you trade in the stock market through Aditya Birla Money:
Huge offline presence helps the clients to keep a physical connection with the broker
Call and trade facility is Free
Trading and investing possible across multiple financial segments
Part of a prominent finance group, thus, the trust factor is high when it comes to customer service
Aditya Birla Money is a conventional full-service stockbroker with all the ingredients at the right place, including research, service, trading products, platforms, brokerage, exposure and more. However, the broker is not a champion in any of these aspects and provides an average level of values in either of these components.
With huge competition coming from emerging discount brokers that is empowering the user base, Aditya Birla Money needs to take a quick stance on the kind of direction it wants to look forward to.
Thus, if you have specific requirements and you are looking for anything in particular, you are advised to have a detailed understanding of the quality provided. Of course, this review can help you to an extent but you can also have a word with us or the executive of the broker as well.
Looking to open an account?
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Otherwise, you need to provide a few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Here is the membership information of the broker with different exchanges and intermediate parties:
INB 01 1347037
INB 23 1347031
INE 23 1347031
Aditya Birla Money Limited Ali Centre, No. 53, Greams Road, Chennai – 600 006
The details can be verified from the corresponding websites of the exchanges.
Aditya Birla Money FAQs:
Some of the most frequently asked questions about Aditya Birla Money as discussed below:
Is Aditya Birla Money reliable as a stockbroker? Is it safe?
The full-service stockbroker has been around for more than 2o years and definitely, such a widely acclaimed brand name helps. Thus, as a brand, this full-service stockbroker is certainly is safe. However, when it comes to the reliability of trading platforms, there is a lot more that can be done in that space.
Although quantity-wise, the full-service stockbroker has quite a few trading platforms but quality-wise, yes, there is a room for improvement in terms of speed, user experience etc.
What is the account opening charge at Aditya Birla Money?
To open an account with this full-service stockbroker, you are required to pay INR 750 for your trading account. There are no charges to open the demat account nor the broker levies any maintenance charges on a yearly basis.
What is the exposure provided by Aditya Birla Money for Equity?
Exposure or leverage wise, the full-service stockbroker has minimal values to provide. If you are looking to trade at the intraday level in Equity segment, there is an exposure value of up to 15 times available but for delivery the exposure goes up to 5 times only.
In other trading segments as well, there is not much you can expect from the broker.
What is the research quality at Aditya Birla Money?
The full-service stockbroker provides multiple types of research reports at both the fundamental and technical level. The report names and types are mentioned in length in the ‘Research’ section above.
As far as the quality of these recommendations is concerned, users can rely on the accuracy of these tips and must religiously follow the research received on a regular basis.
How is the customer service at Aditya Birla Money?
There are a limited number of communication channels provided by the full-service stockbroker and the quality of service is not that great either. First of all, the online assistance takes a long time for the overall resolution process and further, the quality of resolution is very generic most of the times and the client stands unanswered with its query(ies) at the end of the day.
In what trading and investment products I can use with Aditya Birla Money?
Aditya Birla money, over a period of time, has been able to accumulate a wide range of trading and investment products. If you are a client or want to be the client of this full-service stockbroker, you can trade or invest in Equity, Commodity, Currency, IPOs, Mutual funds, Insurance and a few other products.
You can check out the detailed comparisons of Aditya Birla Money vs other stockbrokers: